MPowa Loans operates purely online. They are reputable payday lender that is licenced by the National Credit Regulator (NCR). If you apply online before 3pm and your loan is approved, you will receive the cash in your bank by 5pm on the same day.
Max 28% per annum
You must be aged 18 or over to apply.
You must be a South African Citizen and must reside within the.
borders of South Africa. You must also have a South African ID Number, a personal bank account in your name, an email address, and a cell phone number.
You will also be required to provide 3 months most recent bank statements.
Can be renewed for a further 30 days if paid each month
Blacklisted applicants accepted.
If you pay your loan in full within 30 days, you will be allowed to renew your loan again. If you pay off your loan in full each month for 3 consecutive months, you may be entitled to increase your loan amount and borrow additional funds. Fixed monthly repayments.
No hidden costs.
The loan amount must be repaid in full on your payday. You will then qualify for a new loan each month if your loan has been repaid. MPowa charge an initiation fee of 16.5% of the value of the loan up to R10,000 thereafter 10%. (Limited to 15% plus VAT). A service fee of R60 per month is charged. Penalty fees are charged for late payments.
Postnet Suite 462, Private Bag X9, Benmore, 2010